The Dubai International Financial Center (DIFC), a leading global financial center in the Middle East, Africa, and South Asia (MEASA) region announced a year-long partnership with the Global Ethical Finance Initiative (GEFI) before the United Nations on Monday. did. The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) will be held at Expocity Dubai. COP28, taking place in November 2023, will bring together leaders from the public and private sectors to advance climate change.
With the UAE and DIFC hosting COP28 and making significant contributions to the emirate’s sustainable economic growth, the Center sets an example and announces the path to its COP28 partnership just 12 months before the event doing.
DIFC and GEFI will change the global financial industry in terms of net zero deployments. Unlock Islamic Finance. Funding nature and biodiversity. Funding the Sustainable Development Goals. As the host financial hub for GEFI’s Road to COP28 program, the DIFC will support the release of various reports, roundtables, and community engagements over the next 12 months.
The partnership was launched at the DIFC with a keynote address by Ms. Susan Rice, one of the most influential women in the banking industry and chair of her GEFI Global Steering group. UK Clearing The first woman to head her bank, Dame Her Susan is also Chair of the UK Financial Services Cultural Committee.
DIFC Authority Chief Executive Officer Arif Amiri said: The DIFC is perfectly positioned as the financial center of the Pathway to COP28 program given the progress we have already made on climate-related issues and the progress we will be making with our clients going forward. We look forward to working with GEFI and senior members of the local, regional and international financial community to embrace this initiative and make a real difference.
The COP28 campaign aims to encourage and help financial institutions move away from the obligation to actually conduct, measure and report. The maturity and foresight of the UAE government and the DIFC as a world-class financial center are essential for the region’s financial sector to raise environmental awareness and facilitate efforts to meet COP targets.
The partnership is in line with DIFC‘s 2030 Strategy and reflects progress in promoting Dubai’s reputation as the region’s leading sustainable financial hub. This will be achieved through the Chair of the Dubai Sustainable Finance Working Group (DSFWG) established in 2019. The road to COP28 initiative also complements the recent launch of his DSFWG self-assessment tool for measuring the maturity of environmental, social, and governance (ESG) policies and practices in organizations.